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Furniture|Today -- 06/19/2006
Bedding Today
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Some answers for critics of one-year warranties
I've stirred up a bit of a hornet's nest with my recent suggestion that we should shorten bedding producers' warranties to one year and let retailers sell extended warranties. Reaction has ranged from glowing — "Great column about shortening warranties! I could not agree with you more." — to glaring: "If warranties are shortened to one year, what message are you sending the consumer...
Editor's Desk
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Retailer: Net presents threat
Last week, I got a letter from Gary O'Reilly, owner of Park Avenue Home Furnishings, an Illinois-based furniture retailer. With over 30 years of furniture retailing under his belt, he's lived through lean years and fat ones. He's not a bird whose feathers ruffle easily. However, the tone of his letter made it clear he was distressed.
Industry Numbers
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Pier 1 loss nearly doubles
Fort Worth, Texas— Top 100 specialty chain Pier 1 Imports said declining sales and higher costs led to a loss of $23.2 million in its first quarter ended May 27, nearly double the loss in the same period a year ago. Sales were down 3.6% to $376.1 million, with same-store sales falling 6.6%. The results included $407,000 in losses from a discontinued operation, the United Kingdom subsidiar...
News
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Retail landscape in flux
High Point— The retail furniture landscape has been shifting this year with an apparent spike in furniture store closings and consolidations. Since January, headlines in Furniture/Today have pointed to Benchmark Home Furnishings calling it quits in Kansas City, Gabberts liquidating its Texas store and Leather Factory in California shutting down.
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280 gather for World Furniture Congress
Palma De Mallorca, Spain— About 280 representatives from 60 manufacturers, retailers, financial groups and trade publications and associations met here for the first World Furniture Congress last month. The event brought industry officials from 40 countries together to discuss ways to better cooperate and share information in an increasingly global industry.
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1st Henredon-owned store set for Atlanta in Aug.
High Point— The first company-owned Henredon store is set to open this August in Atlanta. The 15,000-square-foot showroom in the Perimeter Mall area will feature Henredon collections and such licensed groups as Ralph Lauren Home, Lauren and Barbara Barry. Another 2,000 square feet will be dedicated to offices and a dock area.
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Ikea's Texas store ahead of schedule
Round Rock, Texas— With construction ahead of schedule, Ikea has shifted the opening of its store in this central Texas city from next spring to this fall. The Sweden-based retailer, which also has Texas stores in Frisco and Houston, is building a 252,000-square-foot store here at IH-35 and University Boulevard.
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Bay running GOB sale
Homewood, Ill.— Bay Furniture, which had been searching for a buyer while running a cash-raising sale, is calling it quits. A trustee for the midpriced Chicagoland retailer, which was co-owned by brothers Rick and Larry Slovy and their father, Barry Slovy, is running a going-out-of-business sale through Great American Group.
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McMahan's closing 3 stores in Reno and Oregon markets
Los Angeles— Top 100 chain McMahan's is closing its lone Nevada store in Reno and two others in Oregon, and will concentrate on more profitable markets. The Reno location, with a 36,000-square-foot showroom and 16,000-square-foot warehouse, is the largest to close. Also closing are a 16,000-square-foot store in Astoria, Ore.
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Copyright under fire
Washington— A proposed amendment to the federal Copyright Act called the Orphan Works Act could put much of the furniture and fabric industry's copyright archives into the public domain, according to domestic fabric suppliers and others who are building a coalition to oppose the bill in Congress.
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Mattress Firm eyes Fla.
Houston— Mattress Firm, one of the largest U.S. mattress retailers, is preparing to expand into a new market or markets in Florida in six to 12 months as part of a bid to significantly grow its business. Gary Fazio, chairman and CEO, said the retailer has spent the past few years positioning itself "for accelerated growth.
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Scheller joins Broyhill team
Lenoir, N.C.— Full-line importer and manufacturer Broyhill has expanded its merchandising team with the hiring of Fran Scheller. A retail veteran, Scheller fills the new position of merchandise manager for bedroom and dining room, reporting to Mike McCollum, vice president of merchandising and design.
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Emerson et Cie names Mark Smith president
High Point— High-end case goods importer Emerson et Cie has promoted Mark Emerson Smith from vice president of marketing to president. Smith, 41, is the son of Marvin and Connie Smith, who founded the company in 1984 and will remain as joint CEOs. Mark Smith joined the company in 1985, covering the company's Northern California sales territory.
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WMC gets OK for 3rd building
Las Vegas— City officials have approved plans for Building 3 of the World Market Center, setting the stage for a groundbreaking in the fourth quarter. At nearly 2.1 million square feet, the 16-story building will be the largest WMC structure to date. It is scheduled to open in 2008. "The third building is by far the most diverse lineup and will make World Market Center and its suppliers a...
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Lawrence sets free Vegas July concert
Las Vegas— Las Vegas furniture market attendees will have to dust off their boots next month as country crooner Tracy Lawrence takes the stage at the Fremont Street Experience. Lawrence hit the national scene in 1991 and has been churning out hits ever since. His distinctive voice has earned him praise from critics and a following among country music fans.
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Cory revamps management; 3rd generation takes larger role
Jersey City, N.J.— Cory Home Delivery, a key home delivery provider for furniture, appliance and electronics retailers, is restructuring senior management as the Cory family's third generation assumes control of day-to-day operations. Brothers Joe and Jim Cory will remain CEO and president, respectively, but the company said Joe Cory Jr.
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Tietex lawsuit accuses American Furniture of copying Clarissa fabric
High Point— Tietex Interiors has sued upholstery manufacturer American Furniture, claiming that American knocked off a Tietex fabric design. The complaint, filed in federal court in Greensboro, N.C., claims that American Furniture made and sold furniture upholstered with unauthorized copies of Tietex's copyrighted Clarissa fabric, and that American Furniture knowingly and intentionally ad...
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Gennet retained as consultant at just-bought Weiman/Preview
Christiansburg, Va.— Contemporary upholstery maker Weiman/Preview has hired Michael Gennet, former president of upholstery manufacturer Lazar and of the San Francisco Mart, as a consultant. Gennet will be liaison between the company and accessories resource Interlude Home, which recently purchased Weiman/Preview from Bassett Furniture.
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Fuller gets new Zagaroli sales post
Hickory, N.C.— Bess Lane Fuller has been named director of marketing and sales at Zagaroli Classics, a new post for the upscale leather upholstery maker. She was director of marketing for the past three years at Classic Leather. She also has experience in training and development, and in marketing and sales at banking, real estate and health care companies.
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Jerome's taps Goodman to fill new COO position
San Diego— Lee Goodman has joined Top 100 company Jerome's here as chief operating officer, a new position. Goodman, 35, who left as COO of Manchester, Conn.-based Bob's Discount Furniture last year, is responsible for day-to-day operations at five-store Jerome's. He reports to President Jerry Navarra.
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Walker would have made Top 100 list
Las Vegas— Walker Furniture here says Furniture/Today underestimated its 2005 sales, which cost it a spot on the most recent Top 100 store list. Walker's furniture, bedding and accessory sales rose 15.3% to $76 million in 2005 from $65.9 million the previous year, said Walker President Larry Alterwitz.
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Vietnam wood producer sets 400,000-sq.-ft. plant
Phoi Canii Tong The, Vietnam— Vietnamese case goods manufacturer The Country Co. said it will begin construction this summer on a 400,000-square-foot factory here. The factory will produce 175 to 225 containers of furniture a month and will be able to mix products within the containers, said President Ted Dash.
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Shermag losses mount in 4th quarter, year
Sherbrooke, Quebec— While efforts to transform its business should help future results, the tidal wave of product from Asia and a weakening U.S. dollar continued to plague full-line manufacturer and importer Shermag in its fourth quarter ended March 31. Largely because of higher restructuring charges, the company posted a net loss of C$22.
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Stanley lowers sales, earnings forecast
Stanleytown, Va.— Manufacturer Stanley Furniture has lowered its sales and earnings guidance for the current quarter, blaming continued weakness in furniture retail activity. The company now expects its sales to decline by 8% to 10% from record shipments of $83.5 million in the 2005 second quarter.
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HP market working to restore cut state funds
High Point— The North Carolina House has approved a state budget that drastically reduces the amount of marketing funds sought by the International Home Furnishings Market Authority. The budget sets aside $750,000 for marketing and promotion of the High Point market, less than half the $1.75 million contained in the state Senate version of the budget.
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Golden Gate Logistics buys Global Link
Atlanta— Golden Gate Logistics of Palo Alto, Calif., has acquired Global Link Logistics, an Atlanta-based provider of ocean freight and brokerage services to North American furniture importers. Golden Gate was founded in January by GTCR Golden Rauner, a Chicago-based private equity firm, to focus on acquiring and consolidating logistics services providers in North America and internationa...
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Dountas resigns as Sauder VP
Archbold, Ohio— Susan Dountas has resigned as vice president of merchandising at ready-to-assemble and case goods major Sauder Woodworking. Kevin Sauder, president and CEO, said Dountas was among employees offered severance packages in connection with ongoing management restructuring at the company, and she accepted.
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Decca's antidumping duty cut from 198% to 6.65%
Washington— The U.S. Department of Commerce has agreed to lower Chinese case goods manufacturer Decca Furniture's antidumping duty on bedroom furniture. In a ruling last week, the government dropped Decca's duty from the all-China rate of 198.08% to the Section A rate of 6.65%. The change comes after a review of an appeal Decca made to its initial duty, which went into effect in January 2...
- Obituaries
Naturwood's Keyes dies on fishing trip
Sacramento, Calif.— A memorial mass and private interment were held last week for John Allen Keyes, CEO and owner of retailer Naturwood Home Furnishings here. He was 68. Keyes, who was semi-retired, died June 7 during an annual fishing trip with friends to Queen Charlotte Island in Alaska, a store spokesman said.
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City of Hope salutes pair, raises record $1 million
Coto De Caza, Calif.— Industry members and guests turned out in record numbers here to play golf, pay tribute to Sit 'n Sleep leaders Nelson Bercier and Larry Miller, and raise a record sum for the City of Hope. More than 600 people took part in the 15th annual West Coast Golf & Tennis Tournament, dinner and auction sponsored by the City of Hope's National Home Furnishings Industry Ch...
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Race: Win for Davis, drag for Marks
Gainesville, Fla.— Last year's City of Hope Spirit of Life honorees, Don Marks and Lynn Davis, can say they're fast friends — to the tune of 120 miles per hour. The pair met up at a drag racing track here in an event tied to an August auction sponsored by Mulberry, Fla.-based retailer W.S.
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ADL gala honors Johansens, Wittenberg
New York— About 400 industry members gathered here as the National Home Furnishings Division of the Anti-Defamation League honored retailers Wayne Johansen and Rod Johansen of HOM Furniture, Coon Rapids, Minn., and Bill Wittenberg, president and CEO of manufacturer Berkline/BenchCraft. The honorees were presented with the ADL's 2006 American Heritage Awards.
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Broyhill will close Lenoir wood plant
Lenoir, N.C.— Broyhill Furniture will cease operations in August at its 522,000-square-foot, 692-employee Pacemaker case goods plant here. "This incredibly difficult decision is a direct result of the competitive pressures we are seeing in our domestically produced case goods products," said Broyhill spokesman Tom Lentz.
Opinion Today
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Getting the news to you, every which way we can
I joined Furniture/Today in March 2000 as part of a broad effort by our parent company, Reed Business Information, to help guide the newspaper and its sister publications into the growing Internet sector. As usual, F/T was ahead of the game. It had launched a Web site in 1997, and from the beginning www.
Special Report
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United Sleep, Jamison, Park Place on the grow
High Point— In a highly competitive marketplace, three bedding producers are bidding to take their place among the nation's largest bedding makers. The three are United Sleep Products, based in Denver, Pa., Jamison, based in Franklin, Tenn., and Park Place Corp., based in Greenville, S.C. Furniture/Today doesn't have a broad enough base of data on those privately held companies to establi...
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About the numbers
High Point— Furniture/Today's ranking of the Top 15 Bedding Producers ranks companies according to 2005 U.S. wholesale bedding shipments. Contract shipments are included in figures, and shipments to Puerto Rico are excluded. EITF 01–9 sales adjustments, including sales allowances and incentives, are also included and are reported in the notes when available.
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Egypt's goal: $1B in exports
Cairo, Egypt— Egyptian government and trade officials will work to boost worldwide furniture exports to as high as $1 billion a year in the next three years from the current $200 million. Egypt's Minister of Trade and Industry, Mohamed Rasheed, said at Furnex 2006 that his agency wants to develop and modernize Egypt's furniture industry.
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It's hip to be... Round
High Point— Is the tub the new club? That venerable favorite, the leather club chair — squat and square — is receiving some new design competition from a curvy alternative, the tub chair. Several leather upholstery manufacturers rounded out their lines this spring by adding a curvaceous tub chair, known in some design circles as a barrel chair.
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Sealy, Simmons, Serta still lead bedding pack
High Point— The three largest bedding producers retain their market-leading positions, but are joined by a new member of the Big Four. Fast-growing Tempur-Pedic has cracked that elite club, which for years consisted of Sealy, Simmons, Serta and Spring Air. Tempur-Pedic's 31.3% sales gain last year propelled the specialty sleep producer into the No.
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Who's No. 2 depends on allowances
High Point— Who is the No. 2 bedding producer? Depending on how you do the accounting, it's Simmons ... or Serta. The reason for the confusion on that point is an accounting change adopted by companies who make filings with the Securities and Exchange Commission. That change, in accordance with Emerging Issues Task Force Issue 01–09, stipulates that companies must record reductions ...
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Luxury brands experience a tough year
High Point— Once again, some of the bedding industry's leading luxury brands experienced a tough year. One of the industry's best-known luxury brands, Stearns & Foster, saw its sales flatten last year, according to Furniture/Today estimates. The newspaper puts S&F shipments in 2005 at $218 million, unchanged from the previous year.
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Furnex draws 650 global buyers to Cairo
Cairo, Egypt— Exhibitors at the third annual Furnex show here once again illustrated their talents in making hand-crafted furniture to buyers from around the world. Held from June 1–5 at the Cairo Exhibition & Convention Center, the event featured 150 exhibitors showing products ranging from upholstery and youth to office and hotel furniture.
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